Podcasts about de rugy

Guest: Veronique de Rugy. De Rugy of the Mercatus Center examines the failure of Georgia's film tax credits, noting that productions eventually moved to cheaper locations despite billions in subsidies. She compares this to federal industrial policies like tariffs and Intel subsidies, arguing that government attempts to "pick winners" rarely produce sustainable economic results.1951 JACK DEMPSEY AND MAMIE VAN DOREN

SHOW SCHEDULE1-29-20261942 LANCASTER PA, ARMISTICE DAY IN WARTIME Guest: Anatol Lieven. Lieven of the Quincy Institute discusses breaking news that Vladimir Putin has agreed to a one-week ceasefire on Ukrainian cities following a request from Donald Trump. Lieven views this as a significant positive signal of Putin's desire to maintain good standing with the incoming administration, though he notes that major territorial disagreements remain unresolved. Guest: Anatol Lieven. The conversation turns to the $300 billion in suspended Russian assets. Lieven outlines Russia's proposal to use these funds for reconstruction or a joint investment fund to avoid confiscation, suggesting that suspending rather than lifting sanctions could be a political compromise to secure U.S. Senate approval. Guest: Chris Riegel. Riegel, CEO of Stratology, analyzes Elon Musk's pivot to manufacturing "Optimus" androids, arguing that California's restrictive tax and labor costs are driving the need for automation. He suggests that major retailers like Walmart are poised to replace significant portions of their workforce with robotics to maintain profitability amid rising economic pressures. Guest: Mariam Wahba. Wahba from the Foundation for Defense of Democracies reports on the persecution of Christians in Nigeria by jihadists and Fulani militants. She details a newly established White House working group designed to help the Nigerian government fix security gaps and enforce laws against the perpetrators of this religiously motivated violence. Guest: Mary Anastasia O'Grady. O'Grady of the Wall Street Journal critiques the Trump administration's engagement with Venezuela's acting president, Delcy Rodriguez. O'Grady warns that while Rodriguez is cooperating on oil exports, she remains a "vice dictator" managing rival factions to ensure the regime's survival while stalling on the release of political prisoners. Guest: Veronique de Rugy. De Rugy of the Mercatus Center examines the failure of Georgia's film tax credits, noting that productions eventually moved to cheaper locations despite billions in subsidies. She compares this to federal industrial policies like tariffs and Intel subsidies, arguing that government attempts to "pick winners" rarely produce sustainable economic results. Guest: Michael Toth. Toth of the Civitas Institute warns against new "climate superfund" legislation in states like New York, which seeks to retroactively tax fossil fuel companies for global warming. He characterizes these funds as unconstitutional attempts to regulate global emissions at the state level, arguing they will function as slush funds that drive up energy costs. Guest: Michael Toth. The segment focuses on California's strategy to empower the Attorney General to sue fossil fuel companies for rising insurance premiums. Toth argues these lawsuits are politically motivated and legally weak, noting that even insurance companies refuse to sue because attributing specific damages or deaths to corporate emissions is factually difficult. Guest: Professor Evan Ellis. Ellis of the U.S. Army War College reports that Cuba is facing a catastrophic energy collapse, with only days of oil remaining after Mexico and Venezuela cut supplies. He predicts this crisis will likely trigger a massive wave of migration as the island's power grid and economy face a near-total shutdown. Guest: Professor Evan Ellis. Ellis discusses the Costa Rican election, where center-right candidate Laura Fernandez holds a commanding lead. He describes her as a technocrat focused on combating drug-fueled crime and continuing pro-business policies, noting she is on track to potentially win the presidency in the first round. Guest: Professor Evan Ellis. Ellis evaluates Mexican President Claudia Sheinbaum, praising her pragmatic management of relations with the U.S. despite her leftist ideology. He notes she has navigated threats of tariffs and military intervention by cooperating on border security and extradition, while maintaining political dominance through her predecessor's powerful movement. Guest: Professor Evan Ellis. Ellis describes the unstable power dynamics in Venezuela, where the Rodriguezfaction cooperates with the U.S. on oil to prevent economic collapse. He warns that rival criminal factions, including the ELN and military figures, may sabotage this arrangement if they fear being betrayed or marginalized by the current leadership. Guest: Padraic Scanlan. Scanlan, author of Rot, introduces the history of the Irish Famine by recounting a folk story about Queen Victoria visiting the devastated village of Skibbereen. He sets the context by explaining how the pre-famine Irish economy relied entirely on the high-yield potato, which allowed landlords to pay incredibly low wages to a capital-poor population. Guest: Padraic Scanlan. Scanlan discusses the structure of Irish land ownership, using Shirley Castle as an example of the disconnect between landlords and tenants. He explains that while the landscape looked ancient, landlords were actually modern, sophisticated merchants who extracted rent from a tenant class living on small, unimproved plots known as "conacres." Guest: Padraic Scanlan. Scanlan explains the Victorian view of the famine through the lens of economist Thomas Malthus, who believed the "generous" potato encouraged overpopulation. He notes that Britishpolicymakers viewed the famine as a natural, inevitable correction and feared that providing aid would discourage the Irish poor from developing a "civilized" work ethic. Guest: Padraic Scanlan. Scanlan details the biological cause of the famine: Phytophthora infestans, a water mold that originated in Mexico. He explains that because Irish potatoes were genetically identical clones grown from cuttings, they had zero resistance to the pathogen, which destroyed both growing crops and stored food, leaving the population with no buffer against starvation.

SEGMENT 4: MAGA EMBRACES BIG GOVERNMENT LIKE NEW DEALERS Guest: Veronique de Rugy De Rugy argues MAGA policies mirror New Deal-era big government activism through state industrial policy and massive spending programs. Traditional Republican principles of limited government appear obsolete or abandoned, with the RINO label now applied to anyone advocating fiscal restraint or free market economics.1846 BRUSSELS

The Upwardly Mobile but Anxious Middle Class. Guest: VERONIQUE DE RUGY. Despite reports of a shrinking middle class, data shows many individuals are actually moving into the upper middle class. However, significant anxiety remains due to rising costs in government-regulated sectors like healthcare, housing, and education. This discontent leads to a search for scapegoats among the elite.1899

Veronique de Rugy is the George Gibbs Chair in Political Economy and a Senior Research Fellow at the Mercatus Center at George Mason University. In Veronique's first appearance on Macro Musings she discusses her career as a think tanker's think tanker, what the difference is between classical liberals and libertarians, how America's mindset has shifted on trade and immigration, the fiscal health of the United States, the US's impending debt crises, solutions for fixing the fiscal health of the United States, and much more. Check out the transcript for this week's episode, now with links. Recorded on November 18th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Veronique on X: @VerodeRugy Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:01:18 - Vero's Career 00:17:35 - Vero's Career 00:24:32 - Fiscal Policy at Mercatus 00:40:59 - Steps Toward a Sustainable Fiscal Path  00:48:34 - Flattening the Debt Curve 00:59:13- Outro

THE URGENCY OF SOCIAL SECURITY REFORM Colleague Veronique de Rugy, Mercatus Center. Veronique de Rugy argues Social Security must be reformed before trust funds run dry in the 2030s. She contends the system unfairly redistributes wealth from young workers to increasingly wealthy seniors and advocates for capping benefits or means-testing rather than raising taxes or allowing across-the-board cuts. NUMBER 6

Send us a textIn this final episode of The Great Antidote, I sit down with my mom, Veronique de Rugy (does this feel like a Mr. Big name reveal for some of you?!), to reflect on the podcast and the remarkable journey of the past five years. Together, we revisit how the show started, the ideas that shaped it, the moments that changed me, and the people whose support made everything possible. This episode is a reflection on learning, growth, and gratitude—and a thank-you to everyone who has been part of this project.Veronique de Rugy is the George Gibbs Chair in Political Economy and Senior Research Fellow at the Mercatus Center at George Mason University. She is also an incredible mother (just ask me (if you don't trust me, you can ask my sister)).Support the showNever miss another AdamSmithWorks update.Follow us on Facebook, Twitter, and Instagram.

Credit Card Interest Rate Caps Would Harm Low-Income Borrowers: Colleague Veronique de Rugy criticizes proposals by Senators Sanders and Ocasio-Cortez to cap credit card interest rates at 10 percent, arguing price controls will force companies to reduce risk, ultimately denying credit to the low-income borrowers the bill aims to protect SP 1954.

Invités : Eric Naulleau, journalisteGauthier Le Bret, journaliste politiqueLouis de Raguennel, journaliste politiqueFrançois de Rugy, ancien ministre et ancien président de l'Assemblée nationaleSabrina Medjebeur, essayisteBenoit Perrin, directeur général contribuables associésHébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Political Horseshoe: Convergence of Left and Right on Interventionism — Veronique de Rugy — de Rugy describes the political "horseshoe" theory wherein ideologically opposed left and right political movements converge on preferences for expansive government intervention and managed economy policies. de Rugy documents that while left and right factions blame different villains—wealth inequality versus immigration—both now support agricultural subsidies, protectionist tariffs, and direct state economic intervention. de Rugy emphasizes that both extremes have systematically abandoned classical free-market principles in favor of comprehensive managed economy frameworks emphasizing state control and industrial policy direction. 1910

PREVIEW — Veronique de Rugy — The Political Horseshoe: Converging Discontent. de Rugy explains the political "horseshoe" theory, which posits that ideologically opposed extremes—the far Left and far Right—converge in their fundamental conviction that the United States is pursuing a catastrophic trajectory requiring comprehensive government intervention and systemic restructuring. de Rugy documents that both ideological poles perceive the existing political-economic order as fundamentally irreparably corrupted or unjust, generating agreement across the ideological spectrum regarding the necessity of radical systemic transformation despite divergent visions regarding post-transformation governance structures and resource allocation mechanisms. 1955

Veronique De Rugy discusses US industrial policy, noting the trade deficit has increased despite tariffs, and the administration's decision to remove tariffs on food items—goods not produced domestically—is seen as an implicit admission that tariffs contribute to the "affordability crisis" because tariffs are a tax primarily borne by American consumers. The goals behind tariffs have shifted from fighting China to raising revenue, and the largest tariff exemption is for computer parts, indicating an understanding that tariffs could contradict other goals like energy abundance. De Rugyargues that US economic power stems from innovation and a willingness to invest, making industrial policy involving tariffs and seeking foreign investment largely unnecessary and potentially harmful. 1947

Veronique de Rugy discusses the cost of living, critiquing the administration's claims that Thanksgiving dinner is cheaper, citing the use of shrinkflation and item removal. She criticizes the proposal to send $2,000 checks, noting this Keynesian approach boosts demand, which, without increased supply, risks raising prices further. De Rugy advocates for deregulation and the elimination of tariffs (which she confirms are a tax) as the necessary supply-side solution to the affordability crisis. Guest: Veronique de Rugy.

SHOW 11-13-25 CBS EYE ON THE WORLD WITH JOHN BATCHELOR THE SHOW BEGINS IN THE DOUBTS ABOUT BUNDESTAG COHESION AND  STABILITY. FIRST HOUR 9-915 1/2 Anatol Lieven discusses the war in Ukraine, noting the new Russian unit RubiKon hunting drone operators and the slow Russian advance on Pakovsk, aided by both innovation and old factors like fog. The conversation also covers Germany's military rearmament plans and the significant, rising influence of the populist right AFD party in German politics, which is strongly anti-immigrant and largely anti-rearmament. Guest: Anatol Lieven. 1/2 915-930 2/2 Anatol Lieven details UK Prime Minister Starmer's genuine political troubles concerning domestic policy drift and significant potential losses in upcoming regional elections. Starmer maintains prestige supporting Ukraine, though funding remains a question. A back channel to Moscow has been opened by Jonathan Powell to discuss peace, dropping the prior insistence on a ceasefire, indicating a shift in London. Guest: Anatol Lieven. 2/2 930-945 Chris Riegel, CEO of SCALA.com, states that Chinese claims of matching Nvidia's high-end chip success are largely propaganda, though China mandates domestic chip use. The US holds the AI "pole position." AI is a genuine profit driver, worth trillions to GDP, with material workforce impact expected by 2026. Guest: Chris Riegel 945-1000 Mary Anastasia O'grady reports on the assassination of Mayor Carlos Monzo in Michoacán, killed after leaving President Sheinbaum's Morena party and aggressively confronting cartels and their agricultural extortion. Sheinbaum has cooperated smartly with the US, allowing surveillance flights, and hired credible security chief García Haruch. The main challenge is whether Sheinbaum has the political will to confront the cartels, especially given the widespread belief in Morena's complicity. Guest: Mary Anastasia O'Grady. SECOND HOUR 10-1015 Cliff May discusses severe Christian persecution in Nigeria, which President Tinubu claims guarantees religious liberty. Attacks are carried out by Boko Haram, ISWAP, and powerful Fulani militias. May suggests jihadism acts as theological justification for Fulani nomadic herders to seize land from Christian farmers. The US could provide assistance, training, and advice to the Nigerian military to protect communities. Guest: Cliff May. 1015-1030 Sadanand Dhume examines the shift in US foreign policy, where President Trump now favors Pakistan and its military chief, General Munir. This followed intense combat between India and Pakistan after a horrific terrorist attack. When the US mediated a ceasefire, Trump took credit, which embarrassed Indian Prime Minister Modi. Pakistan cleverly thanked Trump and nominated him for a Nobel Peace Prize, securing his favor over India. India now needs a trade deal. Guest: Sadanand Dhume. 1030-1045 Professor Matthew Graham discusses the most powerful black hole flare ever recorded, which shone like 10 trillion suns from an Active Galactic Nucleus (AGN). Material falling into the supermassive black hole forms an accretion disc, releasing intense radiation. This 10-billion-year-old event was detected using computer cameras. Graham explains that these black holes are ancient "seeds" of galaxies, acting as cosmic vacuum cleaners, such as when a large star gets shredded. Guest: Professor Matthew Graham. 1/2 1045-1100 Professor Matthew Graham details his needs for future black hole research, prioritizing a network of space telescopes with large fields of view, like the Roman space telescope, for perpetual, multi-wavelength monitoring of the sky. This "audit of the cosmos" will improve detection speed and timing. Graham encourages students to pursue black hole work, noting it is a vibrant growth area, viewing black holes as the enduring future product of the universe. Guest: Professor Matthew Graham.2/2 THIRD HOUR 1100-1115 Veronique de Rugy discusses the cost of living, critiquing the administration's claims that Thanksgiving dinner is cheaper, citing the use of shrinkflation and item removal. She criticizes the proposal to send $2,000 checks, noting this Keynesian approach boosts demand, which, without increased supply, risks raising prices further. De Rugy advocates for deregulation and the elimination of tariffs (which she confirms are a tax) as the necessary supply-side solution to the affordability crisis. Guest: Veronique de Rugy. 1115-1130 Conrad Black assesses Canadian Prime Minister Mark Carney's new budget as anti-climactic, failing to deliver promised growth or definitive decisions on controversial policies like pipelines. However, the budget was sensible and conciliatory, avoiding conflict with the opposition, Washington, and Alberta. Carney, adopting a diplomatic style akin to a central banker, did offer serious encouragements to alleviate the housing shortage. Guest: Conrad Black. 1130-1145 Scott Winship analyzes 50 years of US median earnings, preferring the MACPI to accurately adjust for cost of living. He finds that the middle class is better off: women's earnings are up 120%, and men's are up 40–50%. Winship disputes populist theories that income inequality or the China shock are the main villains, noting that the worst period for young men was 1973–1989, predating those factors. Guest: Scott Winship.1/2 1145-1200 Scott Winship investigates the mystery of the decline in young men's earnings between 1973 and 1989. He concludes this period was not caused by accelerated immigration or women entering the workforce, as men's earnings continued to rise. The actual explanation is the unique economic combination of stagflation—high unemployment and very high inflation—that occurred until the early 1980s recession. This severe economic dynamic has not been matched since 1989. Guest: Scott Winship. FOURTH HOUR 12-1215 The arrival of the US carrier Gerald Ford signals an escalating commitment to possible military solutions against Maduro's regime in Venezuela. Maduro has ordered a Cuban-style guerrilla defense, but analysts worry more about "anarchization"—wreaking havoc—if he falls. Removing Maduro and lifting sanctions could lead to necessary refinancing of Venezuela's $170 billion debt. Guest: Evan Ellis. 1/4 1215-1230 Peru faces severe political instability, evidenced by six presidents in two years and detentions for corruption. Transitional leader José Heresi is tackling rising organized crime, including a 36% jump in homicides, through a state of emergency. Meanwhile, China maintains deep-seated influence, controlling key sectors like mining, oil, and the deep-water port of Chancay. Guest: Evan Ellis.2/4 1230-1245 Honduras is holding a high-stakes, single-round election where the outcome could determine if the country returns to alignment with Taiwan or shifts to China. Election observers noted improper pressure and concerns about meddling by the ruling Libre Party. Separately, Argentina's economy under Milei is strengthening, backed by a significant US currency swap and political support. Guest: Evan Ellis. 3/4 1245-100 AM COP 30 is largely "political theater" with commitments insufficient to address climate change. Estimates suggest the crucial 1.5-degree global temperature increase will be reached by 2030. While there is increased international attention, funding remains inadequate; Brazil secured only $5.5 billion toward its $125 billion forest preservation goal. The plight of Amazonian indigenous peoples continues unaddressed. Guest: Evan Ellis.4/4 | 

CBS EYE ON THE WORLD WITH JOHN BATCHELOR 11-6-25 THE SHOW BEGINS IN THE DOUBTS ABOUT VENEZUELA. FIRST HOUR 9-915 Anatol Lieven discusses the institutionalization of the Ukraine war, highlighted by children being trained to fly drones in classrooms. This blend of new technology and old societal militarization creates a "bloodless war" perception, potentially making conflict psychologically easier. He also addresses the argument that "stagnating states" are militarizing to maintain power, fueling conflicts and reasserting spheres of influence (a "new economic Monroe Doctrine"). The US is critically involved, enabling Ukrainian targeting capabilities. 915-930 Anatol Lieven discusses the institutionalization of the Ukraine war, highlighted by children being trained to fly drones in classrooms. This blend of new technology and old societal militarization creates a "bloodless war" perception, potentially making conflict psychologically easier. He also addresses the argument that "stagnating states" are militarizing to maintain power, fueling conflicts and reasserting spheres of influence (a "new economic Monroe Doctrine"). The US is critically involved, enabling Ukrainian targeting capabilities. 930-945 Chris Riegel discusses how artificial intelligence (AI) and robotics are transforming labor, citing modest IBM layoffs but predicting heavy impacts in large retail. Advanced robotics in Chinese auto manufacturing drives cost efficiency, and AI combined with robotics enhances manufacturing capability. While seeing demand, Riegel notes characteristics of a bubble, especially in wildly overvalued stock prices, fueled by vast investment in AI data centers. In QSRs and retail, AI adoption is driven by efficiency and, in places like California, high minimum wages. 945-1000 Mary Anastasia O'Grady discusses the strong US military presence near Venezuela, intended to pressure dictator Nicolás Maduro to leave. While the opposition (led by elected President González) is ready to govern, the Trump administration hesitates due to security concerns. The major risk is chaos: following Maduro's exit, drug cartels (like Cartel de los Soles) and other groups (like ELN and Tren de Aragua) might fight dissident generals, leading to instability rather than a smooth transition to democracy. SECOND HOUR 10-1015 Joel Finkelstein discusses how the New York election of socialist Zohran Mamdani was influenced by "subnationalism," where foreign nations subvert democracy. Organizations associated with Islamist Maoist ideals and CCP assets (like Neville Roy Singham, who bankrolled a campaign hub) were central to mobilizing votes. On social media, especially Instagram and TikTok, content favorable to Mamdani was given "engineered virality," with over 50% of viral engagement coming from non-American users, suggesting organized foreign intercession. 1015-1030 Ahmad Fouad Alkhatib discusses the high probability of renewed conflict in Gaza, arguing that the ceasefire is fragile due to Hamas's malign intentions. He estimates Hamas's combat-effective forces are significantly lower than reported (3,000 to 5,000, versus 15,000 to 30,000), noting Hamas pays fighters $20 to $25 a day. He also challenges polls showing widespread Gazan support for Hamas, arguing such results are manipulated and defy logic given the catastrophe following October 7. Disarmament is crucial for any future political process. 1030-1045 Ahmad Fouad Alkhatib argues that disarmament must precede any credible political process in Gaza, citing Hamas's use of medical facilities like Shifa and Nasser hospitals for interrogations and military activities. He criticizes Turkey and Qatar for using Hamas as a bargaining chip for regional leverage, suggesting they now posture Hamas as a potential security guarantor against ISIS. Alkhatib also suggests using Private Military Contractors (PMCs) as an enforcement force to actively fight Hamas and secure territory, given diminishing faith in an International Stabilization Force. 1045-1100 Gregg Roman details Turkey and Qatar's strategy to establish regional hegemony across "five fronts" by replacing the Shia Crescent. Turkey, providing military manpower, and Qatar, providing the budget, are active in Gaza, southern Lebanon, Syria, and Djibouti. Their plan includes securing maritime supremacy in the Eastern Mediterranean via an agreement with Libya and extending air power over Syrian airspace. Erdoğan seeks plausible deniability by empowering Syrian jihadis to attack the Golan Heights and is building bases in Djibouti and Somalia. THIRD HOUR 1100-1115 Professor Evan Ellis discusses Argentina's economic stabilization under President Milei, who resisted dollarization by bringing the peso to a stable, free-market rate through aggressive spending cuts and US/IMF support. This success under the new US "economic Monroe Doctrine" sends a strong signal to the Americas, aimed at countering China's rapid expansion. Ellis also reviews US military readiness near Venezuela and political shifts toward the center-right in Bolivia and potentially Chile, though these nations remain economically engaged with China. 1115-1130 Professor Evan Ellis discusses Argentina's economic stabilization under President Milei, who resisted dollarization by bringing the peso to a stable, free-market rate through aggressive spending cuts and US/IMF support. This success under the new US "economic Monroe Doctrine" sends a strong signal to the Americas, aimed at countering China's rapid expansion. Ellis also reviews US military readiness near Venezuela and political shifts toward the center-right in Bolivia and potentially Chile, though these nations remain economically engaged with China. 1130-1145 Professor Evan Ellis discusses Argentina's economic stabilization under President Milei, who resisted dollarization by bringing the peso to a stable, free-market rate through aggressive spending cuts and US/IMF support. This success under the new US "economic Monroe Doctrine" sends a strong signal to the Americas, aimed at countering China's rapid expansion. Ellis also reviews US military readiness near Venezuela and political shifts toward the center-right in Bolivia and potentially Chile, though these nations remain economically engaged with China. 1145-1200 Professor Evan Ellis discusses Argentina's economic stabilization under President Milei, who resisted dollarization by bringing the peso to a stable, free-market rate through aggressive spending cuts and US/IMF support. This success under the new US "economic Monroe Doctrine" sends a strong signal to the Americas, aimed at countering China's rapid expansion. Ellis also reviews US military readiness near Venezuela and political shifts toward the center-right in Bolivia and potentially Chile, though these nations remain economically engaged with China. FOURTH HOUR 12-1215 Veronique de Rugy critiques the administration's legal argument at the Supreme Court that the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. She argues the term "emergency" is used too loosely, defining 50 years of trade deficits as an emergency, potentially granting the President immense, unchecked power to tax. Tariffs are taxes, which Congress should control. De Rugy notes tariffs are already causing damage by raising prices for consumers or forcing companies to cut profits and investment. 1215-1230 Alan Tonelson discusses the Supreme Court oral arguments concerning the President's authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA). The administration argues the President can invoke IEEPA due to emergencies like fentanyl and trade deficits. Tonelson finds arguments against including tariffs under IEEPA's regulatory language "jaw-dropping." He stresses that the President must have sole control over declaring foreign policy emergencies, necessary for rapid response. If rejected, the President has other longstanding tariffing powers. 1230-1245 Dr. AJ Kolhari discusses Russia's successful test of the nuclear-powered Burevestnik cruise missile, which flew 14,000 km for 15 hours. The missile captures and compresses air, heating it over a nuclear reactor to create thrust. Kolhari emphasizes the danger because it flies low (50 to 100 m) and is hard to detect. He notes this nuclear propulsion technology, or similar ramjet designs, could revolutionize commercial travel and be applied to flight on Mars, using its CO₂ atmosphere for heating. 1245-100 AM Conrad Black discusses Canadian politics and trade, noting a misunderstanding between Prime Minister Carney and Ontario Premier Doug Ford regarding an anti-tariff ad that offended President Trump. Black reports that China's General Secretary Xi has been conciliatory toward both Canada and the US. Crucially, Canada needs pipelines built both east, west (Trans Mountain to Vancouver/Pacific), and south (Keystone XL) to move Alberta's oil. Carney's federal government tentatively agreed to approve a second pipeline to Northern British Columbia.

Veronique de Rugy critiques the administration's legal argument at the Supreme Court that the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. She argues the term "emergency" is used too loosely, defining 50 years of trade deficits as an emergency, potentially granting the President immense, unchecked power to tax. Tariffs are taxes, which Congress should control. De Rugy notes tariffs are already causing damage by raising prices for consumers or forcing companies to cut profits and investment. 1882 NYSE

Social Security Reform and Means Testing Guest: Veronique de Rugy Veronique de Rugy discusses the looming Social Security funding deadline around 2033, after which benefits face an automatic cut exceeding twenty percent if Congress fails to act decisively. She warns that perpetually borrowing to cover the shortfall represents the worst policy option, potentially leading to massive debt accumulation and inflation. De Rugy proposes means testing benefits as the fairest reform approach, arguing that Social Security currently transfers money from the relatively young and poor to the relatively old and wealthy, justifying progressive benefit reductions without raising taxes or disrupting the system for those most dependent on it.

SHOW 10-31-25 CBS EYE ON THE WORLD WITH JOHN BATCHELOR THE SHOW BEGINS IN THE DOUBTS ABOUT NUKES, FIRST HOUR 9-915 Vegas Pricing, California Politics, and Fire Negligence Guest: Jeff Bliss Jeff Bliss reports on Las Vegas, where MGM CEO Bill Hornbuckle admitted that high pricing strategies—including $12 coffee and $26 bottled water—were driving tourists away and causing massive revenue losses. In California, the $1.5 billion state capital refurbishment project was shrouded in secrecy, with granite quarried in California being sent to Italy for stonework to avoid high labor costs and state safety regulations. Additionally, a lawsuit alleges that LA Fire Department negligence in handling the initial Palisades fire led directly to the massive conflagration that destroyed the neighborhood. 915-930 Social Security Reform and Means Testing Guest: Veronique de Rugy Veronique de Rugy discusses the looming Social Security funding deadline around 2033, after which benefits face an automatic cut exceeding twenty percent if Congress fails to act decisively. She warns that perpetually borrowing to cover the shortfall represents the worst policy option, potentially leading to massive debt accumulation and inflation. De Rugy proposes means testing benefits as the fairest reform approach, arguing that Social Security currently transfers money from the relatively young and poor to the relatively old and wealthy, justifying progressive benefit reductions without raising taxes or disrupting the system for those most dependent on it. 930-945 Economic Indicators and AI in Business Guest: Gene Marks Gene Marks shared mixed economic indicators across the United States: slow activity in Las Vegas and struggling farm equipment manufacturers offset by busy utility distribution contractors benefiting from infrastructure spending programs. His main focus centered on artificial intelligence, advising businesses to integrate AI assistants like Grok or Claude to boost workplace productivity substantially. Marks cautioned that reliance on cloud infrastructure, highlighted by the recent AWS outage, combined with concerns about data privacy and security necessitate accepting calculated risks for potentially high rewards. 945-1000 Economic Indicators and AI in Business Guest: Gene Marks Gene Marks shared mixed economic indicators across the United States: slow activity in Las Vegas and struggling farm equipment manufacturers offset by busy utility distribution contractors benefiting from infrastructure spending programs. His main focus centered on artificial intelligence, advising businesses to integrate AI assistants like Grok or Claude to boost workplace productivity substantially. Marks cautioned that reliance on cloud infrastructure, highlighted by the recent AWS outage, combined with concerns about data privacy and security necessitate accepting calculated risks for potentially high rewards. SECOND HOUR 10-1015 Local Economies: Unexpected Closures and Steady Growth Guest: Jim McTague Jim McTague reports on unusual economic fault lines in Lancaster County, Pennsylvania, where a manufacturer and two restaurant chains closed due to slow business, though a major economic collapse is not imminent. Travel remained busy, and RV manufacturing appears undiminished despite economic headwinds. In Indiana, business was steady and resilient. McTague highlighted the entrepreneurial success of a Hobart, Indiana, family who transformed a one-hundred-acre apple farm into a major tourist attraction, generating significant revenue through simple, family-friendly activities and demonstrating creative economic adaptation. 1015-1030 Canadian National Unity and Alberta's Grievances Guest: Conrad Black Conrad Black reports on a debate between former Prime Ministers Jean Chrétien and Stephen Harper regarding Canadian national unity, focusing on Alberta's profound discontent. Resource-rich Alberta feels unfairly treated and prevented from profiting from oil and gas development due to federal opposition to pipeline construction. Harper warned of serious national problems if the new government, led by Prime Minister Mark Carney, remains inflexible on energy policy. Black notes that while Canada's political institutions are durable, flexibility is required to maintain unity and coherence across diverse regions. 1030-1045 Executive Power and Constitutional Constraints Guest: Professor Richard Epstein Professor Richard Epstein analyzes an executive order creating a five-hundred-person National Guard rapid response force per state for civil disturbances. He argues this improperly expands presidential power, usurping Congress's Article I authority over the militia. Epstein views this as an authoritarian extension of unitary executive theory that violates constitutional federalism. He also notes that pursuing alleged narco-terrorists in Venezuela without a Congressional Authorization for the Use of Military Force is legally tenuous, as drug running constitutes a crime rather than an act of war, making military action constitutionally questionable. 1045-1100 Executive Power and Constitutional Constraints Guest: Professor Richard Epstein Professor Richard Epstein analyzes an executive order creating a five-hundred-person National Guard rapid response force per state for civil disturbances. He argues this improperly expands presidential power, usurping Congress's Article I authority over the militia. Epstein views this as an authoritarian extension of unitary executive theory that violates constitutional federalism. He also notes that pursuing alleged narco-terrorists in Venezuela without a Congressional Authorization for the Use of Military Force is legally tenuous, as drug running constitutes a crime rather than an act of war, making military action constitutionally questionable. THIRD HOUR 1100-1115 Augustine the African: Life, Conversion, and Conflict Guest: Professor Catherine Conybeare Professor Catherine Conybeare discusses Augustine the African, born in Tagaste in North Africa, who spoke Latin but was not fluent in Punic. Augustine moved to Milan, where his Christian mother, Monica, orchestrated an advantageous marriage, forcing him to cruelly separate from his partner of fourteen years and their son. After converting to Christianity and returning to Africa, he was forcibly ordained in Hippo. Augustine employed his rhetorical training, influenced by Cicero, to combat Donatism, a distinctively North African church movement that challenged orthodox Christian authority. 1115-1130 Augustine the African: Life, Conversion, and Conflict Guest: Professor Catherine Conybeare Professor Catherine Conybeare discusses Augustine the African, born in Tagaste in North Africa, who spoke Latin but was not fluent in Punic. Augustine moved to Milan, where his Christian mother, Monica, orchestrated an advantageous marriage, forcing him to cruelly separate from his partner of fourteen years and their son. After converting to Christianity and returning to Africa, he was forcibly ordained in Hippo. Augustine employed his rhetorical training, influenced by Cicero, to combat Donatism, a distinctively North African church movement that challenged orthodox Christian authority. 1130-1145 Augustine the African: Life, Conversion, and Conflict Guest: Professor Catherine Conybeare Professor Catherine Conybeare discusses Augustine the African, born in Tagaste in North Africa, who spoke Latin but was not fluent in Punic. Augustine moved to Milan, where his Christian mother, Monica, orchestrated an advantageous marriage, forcing him to cruelly separate from his partner of fourteen years and their son. After converting to Christianity and returning to Africa, he was forcibly ordained in Hippo. Augustine employed his rhetorical training, influenced by Cicero, to combat Donatism, a distinctively North African church movement that challenged orthodox Christian authority. 1145-1200 Augustine the African: Life, Conversion, and Conflict Guest: Professor Catherine Conybeare Professor Catherine Conybeare discusses Augustine the African, born in Tagaste in North Africa, who spoke Latin but was not fluent in Punic. Augustine moved to Milan, where his Christian mother, Monica, orchestrated an advantageous marriage, forcing him to cruelly separate from his partner of fourteen years and their son. After converting to Christianity and returning to Africa, he was forcibly ordained in Hippo. Augustine employed his rhetorical training, influenced by Cicero, to combat Donatism, a distinctively North African church movement that challenged orthodox Christian authority. FOURTH HOUR 12-1215 Nuclear Testing and Proliferation Concerns Guest: Henry Sokolski Henry Sokolski discusses President Trump's comments on resuming nuclear testing, suggesting Trump may favor a full yield test, last conducted in 1992, over current subcritical testing protocols. The United States maintains a formal moratorium on explosive nuclear testing. Sokolski also addresses proliferation risks associated with the United States potentially helping South Korea build nuclear-powered submarines and enabling South Korea to manufacture its own nuclear fuel. Such action would place Korea weeks away from building nuclear weapons, a development likely to provoke a strong response from Japan and destabilize the region. 1215-1230 Nuclear Testing and Proliferation Concerns Guest: Henry Sokolski Henry Sokolski discusses President Trump's comments on resuming nuclear testing, suggesting Trump may favor a full yield test, last conducted in 1992, over current subcritical testing protocols. The United States maintains a formal moratorium on explosive nuclear testing. Sokolski also addresses proliferation risks associated with the United States potentially helping South Korea build nuclear-powered submarines and enabling South Korea to manufacture its own nuclear fuel. Such action would place Korea weeks away from building nuclear weapons, a development likely to provoke a strong response from Japan and destabilize the region. 1230-1245 Space Race and Private Industry Guest: Bob Zimmerman Bob Zimmerman discusses how SpaceX's privately funded Starship program is positioned to beat NASA, China, and Russia in establishing a lunar base, operating independently of the struggling Artemis program. China and Blue Origin are deemed significantly behind in their lunar efforts. Zimmerman also covers other segments including A Space Mobile competing with Starlink, semiconductor manufacturing in space, the X59 project becoming obsolete due to private innovation, and accessible Martian ice at a potential Starship landing site. The convergence of private sector capabilities and reduced government constraints suggests a fundamental shift in space exploration dynamics. 1245-100 AM Space Race and Private Industry Guest: Bob Zimmerman Bob Zimmerman discusses how SpaceX's privately funded Starship program is positioned to beat NASA, China, and Russia in establishing a lunar base, operating independently of the struggling Artemis program. China and Blue Origin are deemed significantly behind in their lunar efforts. Zimmerman also covers other segments including A Space Mobile competing with Starlink, semiconductor manufacturing in space, the X59 project becoming obsolete due to private innovation, and accessible Martian ice at a potential Starship landing site. The convergence of private sector capabilities and reduced government constraints suggests a fundamental shift in space exploration dynamics.

PREVIEW: Social Security Reform: Capping Benefits for the Wealthiest Guest: Veronique De Rugy Veronique De Rugy discusses the looming Social Security deadline set for 2033, when the program faces a funding shortfall, and potential campaign responses during the 2028 election cycle. De Rugy proposes a reform method she believes can be easily sold to the American people without raising taxes or causing inflation. Her specific proposal invites all Americans, from wealthy to poor, to share in solving the problem by capping benefits for those with the most money and the least need for the program. By capping benefits for the wealthiest seniors, the biggest beneficiaries would see the largest reductions, while those who truly need the program would see no cuts. She notes that today's seniors are generally doing much better financially than when the program was originally created. 1936

Trump Administration's Economic Interventionism Questioned as 'State Capitalism'. Veronique de Rugy critiques the Trump administration's economic policies regarding companies like Intel, US Steel, and MP Mining, calling them "state capitalism" or forms of nationalization. She argues that the government acquiring a minority share in Intel creates bad incentives and unfair competitive advantages. Regarding MP Mining, de Rugy notes that guaranteeing a price floor fails to address the underlying issue of government regulation hindering rare earth production in the US.E 1882. BURLINGTON RAILROAD STRIKE

Tariffs Harm Consumers, Reduce Hiring, and Cause Customs Backlogs. Veronique De Rugy explains how tariffs are costing American consumers and businesses over 80% of the expense, leading to higher prices and reduced corporate margins. The tariff policy is harming the job market, causing 40% of CEOs to pause hiring and investments. Customs authorities are overwhelmed by the volume of small packages now requiring assessment, causing significant backlogs and lost goods for consumers. Special interests are expanding the tariff application to derivative products, such as peanut butter packaged in metal containers. 1931

CBS EYE ON THE WORLD WITH JOHN BATCHELOR THE SHOW BEGINS IN THE DOUBTS ABOUT THE HAMAS DEAL... BARCELONA 1899 10-9-25 FIRST HOUR 9-915 The Genesis of Hamas, the Failure of "Land for Peace," and Theological Jihad Cliff May discussed the failure of the "land for peace" policy following Israel's 2005 withdrawal from Gaza and the violent takeover by Hamas. Hamas, representing the Muslim Brotherhood and born from theological jihad, views its mission as the destruction of Israel to establish an emirate. May emphasized that any cessation of hostilities is merely a hudna (truce), used by Hamas to rebuild for future battles, not a lasting peace. 915-930 Javier Milei's Dilemma: Midterms, the Wobbling Peso, and the Push for Dollarization Mary Anastasia O'Grady analyzed Argentinian President Javier Milei's economic and political dilemma as he faces midterms with a wobbling peso leading up to the October 26th elections. The peso is suffering due to fears that the opposition Peronist coalition will block Milei's reforms. O'Grady advocated for dollarization as the solution to stabilize the currency, reduce interest rates, and impose fiscal discipline on reckless spending. Powerful financial special interests prefer the status quo of an unanchored peso. 930-945 The Valdai Conference, Russia's Global South Strategy, and Warnings to the West Anatol Lieven discussed the Valdai conference in Sochi, where President Putin projected confidence but issued stark warnings against the US providing Tomahawk missiles to Ukraine and Europeans committing "piracy" by seizing Russian cargos. Attendees focused on the BRICS group and the Global South as Russia pursues alternative alliances. Russians express disappointment in Donald Trump's failure to deliver peace and worry about the war's slow progress. The conflict is fundamentally viewed by Russians as a struggle with NATO. 945-1000 The Valdai Conference, Russia's Global South Strategy, and Warnings to the West Anatol Lieven discussed the Valdai conference in Sochi, where President Putin projected confidence but issued stark warnings against the US providing Tomahawk missiles to Ukraine and Europeans committing "piracy" by seizing Russian cargos. Attendees focused on the BRICS group and the Global South as Russia pursues alternative alliances. Russians express disappointment in Donald Trump's failure to deliver peace and worry about the war's slow progress. The conflict is fundamentally viewed by Russians as a struggle with NATO. SECOND HOUR 10-1015   US Military Posturing, Venezuela's Cartel de Los Soles, and Instability in the Americas Professor Evan Ellis analyzed President Trump's escalating military posturing and actions against drug cartels, particularly impacting the Venezuelan regime of Nicolás Maduro and the Cartel de Los Soles. Senate members raised constitutional concerns over the use of military force. Ellis also examined political resistance to Argentinian President Javier Milei's austerity measures amid broader instability in the Americas, and noted positive strategic movements toward improved relationships with Mexico's Claudia Sheinbaum and Brazil's Lula da Silva. 1015-1030 US Military Posturing, Venezuela's Cartel de Los Soles, and Instability in the Americas Professor Evan Ellis analyzed President Trump's escalating military posturing and actions against drug cartels, particularly impacting the Venezuelan regime of Nicolás Maduro and the Cartel de Los Soles. Senate members raised constitutional concerns over the use of military force. Ellis also examined political resistance to Argentinian President Javier Milei's austerity measures amid broader instability in the Americas, and noted positive strategic movements toward improved relationships with Mexico's Claudia Sheinbaum and Brazil's Lula da Silva. 1030-1045 US Military Posturing, Venezuela's Cartel de Los Soles, and Instability in the Americas Professor Evan Ellis analyzed President Trump's escalating military posturing and actions against drug cartels, particularly impacting the Venezuelan regime of Nicolás Maduro and the Cartel de Los Soles. Senate members raised constitutional concerns over the use of military force. Ellis also examined political resistance to Argentinian President Javier Milei's austerity measures amid broader instability in the Americas, and noted positive strategic movements toward improved relationships with Mexico's Claudia Sheinbaum and Brazil's Lula da Silva. 1045-1100 US Military Posturing, Venezuela's Cartel de Los Soles, and Instability in the Americas Professor Evan Ellis analyzed President Trump's escalating military posturing and actions against drug cartels, particularly impacting the Venezuelan regime of Nicolás Maduro and the Cartel de Los Soles. Senate members raised constitutional concerns over the use of military force. Ellis also examined political resistance to Argentinian President Javier Milei's austerity measures amid broader instability in the Americas, and noted positive strategic movements toward improved relationships with Mexico's Claudia Sheinbaum and Brazil's Lula da Silva. THIRD HOUR 1100-1115 Marcus Tullius Cicero's Rise, Corruption Trials, and the Catiline Conspiracy Professor Josiah Osgood profiled the Roman "new man" orator Marcus Tullius Cicero and his dramatic rise through corruption trials and political intrigue. Cicero established his career by solving the murder case of Roscius and prosecuting corrupt Sicilian governor Verres for theft. His career climaxed with the suppression of the Catiline Conspiracy, elevating him as a patriot. However, Cicero made a grave political error by executing conspirators without trial, a move opposed by Julius Caesar. 1115-1130 Marcus Tullius Cicero's Rise, Corruption Trials, and the Catiline Conspiracy Professor Josiah Osgood profiled the Roman "new man" orator Marcus Tullius Cicero and his dramatic rise through corruption trials and political intrigue. Cicero established his career by solving the murder case of Roscius and prosecuting corrupt Sicilian governor Verres for theft. His career climaxed with the suppression of the Catiline Conspiracy, elevating him as a patriot. However, Cicero made a grave political error by executing conspirators without trial, a move opposed by Julius Caesar. 1130-1145 Marcus Tullius Cicero's Rise, Corruption Trials, and the Catiline Conspiracy Professor Josiah Osgood profiled the Roman "new man" orator Marcus Tullius Cicero and his dramatic rise through corruption trials and political intrigue. Cicero established his career by solving the murder case of Roscius and prosecuting corrupt Sicilian governor Verres for theft. His career climaxed with the suppression of the Catiline Conspiracy, elevating him as a patriot. However, Cicero made a grave political error by executing conspirators without trial, a move opposed by Julius Caesar. 1145-1200 Marcus Tullius Cicero's Rise, Corruption Trials, and the Catiline Conspiracy Professor Josiah Osgood profiled the Roman "new man" orator Marcus Tullius Cicero and his dramatic rise through corruption trials and political intrigue. Cicero established his career by solving the murder case of Roscius and prosecuting corrupt Sicilian governor Verres for theft. His career climaxed with the suppression of the Catiline Conspiracy, elevating him as a patriot. However, Cicero made a grave political error by executing conspirators without trial, a move opposed by Julius Caesar. FOURTH HOUR 12-1215 Fiscal Irresponsibility, the Cost of Debt, and the Loss of Welfare Reform Lessons Veronique De Rugy of the Mercatus Center criticized Washington's fiscal irresponsibility and the mounting cost of debt, arguing that enormous deficits create an anti-growth drag on the economy. She noted that failing to cut spending is a future tax hike. De Rugy lamented the loss of lessons from the 1996 welfare reform, which showed that work requirements reduced poverty, as politicians now prioritize spending checks over fiscal prudence.D 1215-1230 Deepseek's AI Claims, Huawei's Chip Ambitions, and US/China Tech Competition Chris Riegel analyzed the escalating tech competition between the US and China, focusing on Chinese AI firm Deepseek and noting its claims of superiority were potentially misleading due to non-transparency and reliance on Nvidia technology. He discussed Huawei's chip fabrication efforts and ambitions, concluding that US sanctions, particularly restricting ASML tools, keep China one to one and a half generations behind. The US scale advantage, exemplified by investments like Colossus, remains significant in the AI competition. 1230-1245 The Artemis Program, the New Space Race with China, and the Role of Elon Musk Mark Whittington discussed the Artemis program and the new space race with China, emphasizing that the US is driven back to the moon by competition with the People's Republic of China. The moon is viewed as a source for mining and a refueling stepping stone to Mars, with Elon Musk's SpaceX playing a central role. Co-host David Livingston questioned the engineering challenge of SpaceX's Starship and life support systems for Mars. The program's sustainability depends on phasing out the costly, expendable Space Launch System (SLS). 1245-100 AM The Artemis Program, the New Space Race with China, and the Role of Elon Musk Mark Whittington discussed the Artemis program and the new space race with China, emphasizing that the US is driven back to the moon by competition with the People's Republic of China. The moon is viewed as a source for mining and a refueling stepping stone to Mars, with Elon Musk's SpaceX playing a central role. Co-host David Livingston questioned the engineering challenge of SpaceX's Starship and life support systems for Mars. The program's sustainability depends on phasing out the costly, expendable Space Launch System (SLS).

Fiscal Irresponsibility, the Cost of Debt, and the Loss of Welfare Reform Lessons Veronique De Rugy of the Mercatus Center criticized Washington's fiscal irresponsibility and the mounting cost of debt, arguing that enormous deficits create an anti-growth drag on the economy. She noted that failing to cut spending is a future tax hike. De Rugy lamented the loss of lessons from the 1996 welfare reform, which showed that work requirements reduced poverty, as politicians now prioritize spending checks over fiscal prudence.D 1937

Invités : - Louis de Raguenel , journaliste politique Europe 1 - François de Rugy, ancien Président de l'Assemblée Nationale - Paul Amar, journaliste Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Invités : - François De Rugy, ancien Président de l'Assemblée Nationale - Paul Amar, journaliste - Louis de Raguenel, journaliste politique Europe 1  Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Invité : - François de Rugy, ancien Président de l'Assemblée Nationale Chroniqueurs : - Louis de Raguenel, journaliste politique Europe 1  - Véronique Jacquier, journaliste - Paul Amar, journaliste Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

HEADLINE: Cutting Spending and Lost Lessons of '96 Welfare Reform GUEST NAME: Veronique de RugySUMMARY: John Batchelor speaks with Veronique de Rugy about evidence showing that increased healthcare spending may worsen outcomes. She highlights the 1996 welfare reform, which included work requirements and effectively reduced child poverty and welfare dependence. She argues that the understanding that cutting spending is key to a healthier country is now being lost, as some politicians push for policies creating disincentives to work.

HEADLINE: US Fiscal Crisis and the Politics of Debt GUEST NAME: Veronique de Rugy SUMMARY: John Batchelor speaks with Veronique de Rugy about the federal budget impasse and America's escalating debt crisis. The government has been operating solely on borrowed money since September 21, adding $2 trillion annually to the debt. Both parties avoid addressing fundamental fiscal problems through continuing resolutions that extend previous spending levels. Republicans claim fiscal responsibility while adding to the debt, and Democrats leverage shutdown threats to expand Obamacare subsidies. De Rugy argues that only entitlement reform of Medicare, Medicaid, and Social Security can solve the crisis, along with ending private sector subsidies and reducing federal involvement in state affairs

HEADLINE: US Fiscal Crisis and the Politics of Debt GUEST NAME: Veronique de Rugy SUMMARY: John Batchelor speaks with Veronique de Rugy about the federal budget impasse and America's escalating debt crisis. The government has been operating solely on borrowed money since September 21, adding $2 trillion annually to the debt. Both parties avoid addressing fundamental fiscal problems through continuing resolutions that extend previous spending levels. Republicans claim fiscal responsibility while adding to the debt, and Democrats leverage shutdown threats to expand Obamacare subsidies. De Rugy argues that only entitlement reform of Medicare, Medicaid, and Social Security can solve the crisis, along with ending private sector subsidies and reducing federal involvement in state affairs. 1870 NEW ORLEANS

   Veronique de Rugy defines industrial policy as central planning using subsidies and tariffs to shape the economy. She argues the US already succeeds best through limited government and free trade principles. 1887

Veronique de Rugy of the Mercatus Center questions the need for US industrial policy, arguing that the existing system of limited government and free trade, which produces unparalleled tech and wealth, is already superior. 1790 ADAM SMITH

HEADLINE: US Industrial Policy Criticized as Ad-Hoc State Capitalism GUEST NAME: Veronique de Rugy SUMMARY: Veronique de Rugy analyzes government support for Intel and Nvidia's investment as state capitalism, distinct from cronyism. She criticizes government intervention, predicting poor outcomes when businesses operate under political pressure. The Trump administration's industrial policy lacks clear philosophy, creating uncertainty that could "kill investments" through unpredictable, reversible decisions. 1941

PREVIEW: GUEST NAME: Veronique de Rugy SUMMARY: John Batchelor speaks with Veronique de Rugy about the Trump administration's inconsistent industrial policy. De Rugy explains it's transactional, based on "deal-by-deal" decisions, not a clear philosophy. She notes the logic is hard to follow, as it's not consistently about fighting China or semiconductors, citing Nvidia's sales to China. 1907 NYSE

Veronique de Rugy critiques US tax "carveouts," identifying them as inefficient special interest deductions that often fail to incentivize desired behaviors, citing employer health insurance and mortgage interest deductions. While a flat tax would streamline the system and boost economic growth by focusing on consumption, de Rugy emphasizes that no tax system alone can resolve the severe US debt crisis; crucial reforms to Social Security and Medicare are indispensable. 1870 SIEGE OF PARIS

PREVIEW:De Rugy: Veronique de Rugy explains a flat tax wouldn't solve the severe US debt problem, which is worse than taxes alone can fix. Reforming Social Security and Medicare is crucial. MORE LATER. 1960

• Guest Name: Veronique de Rugy • Affiliation: Mercatus Center • Summary: Veronique de Rugy strongly critiques the proposal for a US sovereign wealth fund, arguing it's a poor idea given the US's high debt-to-GDP ratio and existing budget deficits. She contends that borrowing to invest would be fiscally unsound and would lead to "cronyism on steroids," as government investment decisions are driven by political priorities rather than viable market opportunities, unlike private sector investments. 1910 JUNEAU ALASKA

Market: The Fed and stability. Veronique De Rugy, Mercatus 1945 LIBRARY OF CONGRESS

Preview: Federal Reserve. Colleague Veronique de Rugy comments on the likely necessity of the Federal Reserve being called to stabilize the country by lowering rates to offset the uncollectable debt from unrestrained spending. More later. 1917

Preview: Tariffs. Colleague Veronique de Rugy remarks how tariffs are inefficient and more distortive than corporate taxes. More later. 1907 NYSE

Market: Tariffs fail. Veronique de Rugy 1870 CASTLE GARDEN

Market: Climate and the predicted apocalypse. Veronique de Rugy, Mercatus Center 1958

NEW Fed choice. Veronique de Rugy 1936 LIBRARY OF CONGRESS

Markets: Taxes are not an answer, higher or lower.   Veronique de Rugy, MERCATUS CENTER, GEORGE MASON UNIVERSITY 1941 LUZERNE COUNTY, PA.

PREVIEW: FEDERAL RESERVE Colleague Veronique de Rugy comments that the Trump administration will undermine market confidence if the Fed chair is forced out. [MORE] 1917 FED BOARD

CONGRESS: CUTTING ENERGY SUBSIDIES VERONIQUE DE RUGY APRIL 1957

CONGRESS:; HSA GROWING. VERONIQUE DE RUGY, MERCATUS CENTER, GEORGE MAASON UNIVERSITY 1951 NEWARK NJ

CONGRESS: GOOD BAD UGLY OF THE BIG BEAUTIFUL BILL, NOW ACT. VERONIQUE DE RUGY, MERCATUS CENTER, GEORGE MASON UNIVERSITY. 1892 SCOTUS

CONGRESS: GOOD BAD UGLY OF THE BIG BEAUTIFUL BILL NOW ACT. VERONIQUE DE RUGY, MERCATUS CONTINUED 1907 NYSE

PREVIEW BIG BEAUTIFUL BILL: Colleague Veronique de Rugy comments on how Congress cannot dissolve the debt because it cannot solve spending. More. 1937

GOP: FEARFULOF ENTITLEMENTS. VERONIQUE DE RUGY 1903